CLST 10-K & 10-Q changes, risk factors and insider trading
Catalyst Bancorp, Inc. · Nasdaq · Savings Institution, Federally Chartered · CIK 1849867 · All filings on SEC.gov
At a glance
What changed in the latest 10-K
Risk Factors
Not available: the section could not be located automatically in both filings (non-standard layout or incorporated by reference). See the original filing. Open the filing on SEC.gov.
Management's Discussion & Analysis (MD&A)
Removed heading “Revision of Prior Period Financial Statements”
Largest changes
SEC guidance requires disclosure of “critical accounting estimates.” Thesee in full comparisonfollowingSEC defines “critical accounting estimates” as those estimates made in accordance with generally accepted accounting principles that involve a significant level of estimation uncertainty and have had or are reasonably likely to have a material impact on the financial condition or results of operations of the registrant. Not all significant accounting policiescompriserequirethosemanagementthatto make difficult, subjective or complex judgments. However, management believesarethe policy noted below meet themostSEC’s definition of criticaltoaccountingaidpolicies.inThisfullypolicyunderstanding and evaluating our reported financial results. These policies requirerequires numerous estimates or economic assumptions that may prove inaccurate or may be subject to variations which may significantly affect our reported results and financial condition for the period or in future periods.
Allowance for Credit Losses. We have identified the evaluation of the allowance for credit losses as a critical accounting policy where amounts are sensitive to material variation.see in full comparisonOn January 1, 2023, the Company adopted the guidance under ASU No. 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments.Themain provisions of the ASU have been codified by the FASB under ASC 326. The amendments introduced an impairment model that is based on current expected credit losses, rather than incurred losses, to estimate credit losses on loans. For reporting periods beginning on or after January 1, 2023, theCompany’s allowance for credit losses reflects management’s current estimate of expected credit losses over the remaining life of its loans as of the end of the reporting period.
Substandard Loans and Non-performing Assets. The following table shows the amounts of our substandard loans and non-performing assets, which include non-accruing loans, accruing loans 90 days or more past due and foreclosed assets at the dates indicated. During 2025, the Company downgraded a $3.3 million non-real estate, commercial loan relationship to substandard due to declines in debt service coverage. All loans within the relationship have paid as agreed and, at December 31, 2025, were current and performing.see in full comparison
“Investment Securities. Total investment securities, available-for-sale and held-to-maturity, amounted to $42.2 million at December 31, 2024, down $41.8 million, or 49.8%, compared to $84.0 million in investment securities at December 31, 2023. Net unrealized losses on securities available-for-sale totaled $4.5 million at December 31, 2024, compared to $9.2 million at December 31, 2023. Unrealized losses on available-for-sale securities relate principally to increases in market interest rates for similar securities. …”see in full comparison
“Net Interest Income. Net interest income was $9.5 million for the year ended December 31, 2024, up $1.8 million, or 23.9%, compared to 2023. Our interest rate spread was 2.76% and 2.50% for the years ended December 31, 2024 and 2023, respectively. Our net interest margin was 3.65% and 3.06% for the years ended December 31, 2024 and 2023, respectively. …”see in full comparison
Full comparison: every changed paragraph (66)
SEC guidance requires disclosure of “critical accounting estimates.” The followingSEC defines “critical accounting estimates” as those estimates made in accordance with generally accepted accounting principles that involve a significant level of estimation uncertainty and have had or are reasonably likely to have a material impact on the financial condition or results of operations of the registrant. Not all significant accounting policies compriserequire thosemanagement thatto make difficult, subjective or complex judgments. However, management believes arethe policy noted below meet the mostSEC’s definition of critical toaccounting aidpolicies. inThis fullypolicy understanding and evaluating our reported financial results. These policies requirerequires numerous estimates or economic assumptions that may prove inaccurate or may be subject to variations which may significantly affect our reported results and financial condition for the period or in future periods.
Allowance for Credit Losses. We have identified the evaluation of the allowance for credit losses as a critical accounting policy where amounts are sensitive to material variation. On January 1, 2023, the Company adopted the guidance under ASU No. 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments. The main provisions of the ASU have been codified by the FASB under ASC 326. The amendments introduced an impairment model that is based on current expected credit losses, rather than incurred losses, to estimate credit losses on loans. For reporting periods beginning on or after January 1, 2023, theCompany’s allowance for credit losses reflects management’s current estimate of expected credit losses over the remaining life of its loans as of the end of the reporting period.
The allowance for credit losses includes the allowance for loancredit losses on loans and the allowance for credit losses on unfunded lending commitments, which is recorded in other liabilities on the statement of financial condition. The allowance for credit losses is established through a provision for credit losses charged to earnings. Loans, or portions of loans, are charged off against the allowance in the period that such loans, or portions thereof, are deemed uncollectible. Subsequent recoveries are added to the allowance. The allowance for loancredit losses on loans totaled $2.4 million, or 1.39% of total loans, at December 31, 2025 and $2.5 million, or 1.51% of total loans, at December 31, 2024 and $2.1 million, or 1.47% of total loans, at December 31, 2023.2024. The increasedecline in the allowance for loancredit losses on loans from December 31, 20232024 largely reflects the impact of loannet growthcharge-offs and a decline in 2024.the estimated allowance for credit losses on individually evaluated loans.
Investment Securities. Available-for-sale securities consist of investment securities not classified as trading securities or held-to-maturity securities. Available-for-sale securities are reported at fair value and unrealized holding gains and losses, net of tax, on available-for-sale securities are included in other comprehensive income. The fair market values of investment securities are obtained from a third-party service provider, whose prices are based on a combination of observed market prices for identical or similar instruments and various matrix pricing programs. The fair market values of investment securities are classified within Level 2 of the fair value hierarchy. At December 31, 2024 and 2023, net unrealized losses on available-for-sale securities totaled $4.5 million and $9.2 million, respectively. Unrealized losses on our available-for-sale securities relate principally to the increases in market rates of similar types of securities. During the year ended December 31, 2024, the Company sold 50 available- for-sale investment securities for a total loss of $5.5 million, which is reported in the consolidated statements of income. Proceeds from the investment sales totaled $42.6 million, inclusive of accrued interest.
The adoption of ASC 326 amended the guidance applicable to measuring and recognizing losses on available-for-sale securities. Under ASC 326, expected credit related losses for available-for-sale debt securities are recorded through an allowance for credit losses, while non-credit related losses will continue to be recognized through other comprehensive income as unrealized holding gains and losses, net of tax.
For reporting periods on or after January 1, 2023 and the adoption of ASC 326, management evaluates available-for-sale securities in unrealized loss positions to determine if the decline in the fair value of each security below its amortized cost basis is due to credit-related factors or noncredit-related factors. Consideration is given to the extent to which that fair value is less than cost, the financial condition and near-term prospects of the issuer, and the intent and ability of the Company to retain its investment in the issuer for a period sufficient to allow for any anticipated recovery in fair value. Similarly, ASC 326 requires held-to-maturity debt securities to be presented at an amount net of a current estimate of expected credit losses, though the held-to-maturity debt securities are still reported at amortized cost under the new guidance.
Income Taxes. Deferred income tax assets and liabilities are determined using the liability (or balance sheet) method. During the three months ended March 31, 2024, the measurement of the Company’s deferred income tax assets and liabilities was identified as a critical accounting estimate. Deferred income tax assets and liabilities are determined based on the tax effects of the temporary differences between the book and tax bases of the various assets and liabilities and gives current recognition to changes in tax rates and laws. At December 31, 2024, the Company’s net deferred tax asset totaled $1.5 million and is included in other assets on the statement of financial condition. The most significant portions of the net deferred tax asset are the deferred tax benefits related to the Company’s net operating loss for 2024 and unrealized losses on available-for-sale securities.
According to Subtopic 740-10 of the Accounting Standards Codification (“ASC 740-10”), the measurement of deferred tax assets is reduced, if necessary, by the amount of any tax benefits that, based on available evidence, are not expected to be realized. At December 31, 2024, the Company has not recorded a valuation allowance for its deferred tax assets. Realizing our deferred tax assets principally depends upon our achieving projected future taxable income. We may change our judgments regarding future profitability due to future market conditions and other factors. We may adjust our deferred tax asset balances if our judgments change, which may impact total income tax expense in future periods.
Revision of Prior Period Financial Statements
As discussed in detail in Note 1 of the notes to our consolidated financial statements included in Item 8 of this Form 10-K, during June of 2024, the Bank became aware of interest owed by it to a deposit customer that was not properly accrued or paid by the Bank during the period beginning August 1, 2022 and ending March 31, 2024. Accordingly, management revised the prior period financial statements, related disclosures and supplemental information presented in this filing to correct the misstatement. The Company will also revise previously reported financial information for these immaterial errors in its future filings, as applicable. The information in this Item 7 and throughout this Annual Report on Form 10-K has been adjusted to reflect these revisions as described in Note 1 to the Company’s financial statements of this Annual Report on Form 10-K.
Non-GAAP Measures. The efficiency ratio is a non-GAAP financial measure used by the Company that the Company believes is useful to investors in understanding the Company's performance and trends and facilitates comparison with the performance of its peers. The efficiency ratio represents non-interest expense as a percentage of total revenues. Total revenues is the sum of net interest income and non-interest income.
Total Assets. Total assets increased $5.8$6.2 million, or 2.1%,2.3%, to $282.9 million at December 31, 2025 from $276.7 million at December 31, 2024 from $270.9 million at December 31, 2023.2024. The increase was largely duedriven toby an increase in cash from deposit growth,borrowings, which waswere used to partially offsetfund bygrowth thein repaymentinvestment of outstanding borrowings under the BTFPsecurities and repurchases of common stock.loans.
During 2025, a multi-family construction loan with an outstanding balance of $4.4 million at December 31, 2024 paid-off and $16.5 million of outstanding construction loans at December 31, 2024 were converted to amortizing real estate loans following the completion of their respective construction projects. At December 31, 2025, the outstanding balance of the converted construction loans totaled $19.0 million. Of the $19.0 million, $4.4 million was classified as one- to four-family residential, $2.9 million was classified as multi-family, and the remaining balance was classified as commercial real estate as of December 31, 2025. The increase in commercial and industrial loans during 2025 was largely driven by growth within the industrial equipment and oilfield services segments of our loan portfolio.
During 2024, loan growth was primarily driven by commercial construction and non-real estate commercial loan growth. This was largely the result of our focused business strategy. Since 2021, we have increased our commercial lending activities to grow the loan portfolio with greater diversification.
Allowance for Credit Losses. At December 31, 2024,2025, the allowance for loancredit losses on loans totaled $2.4 million, or 1.39% of total loans, compared to $2.5 million, or 1.51% of total loans, compared to 1.47% of total loans at December 31, 2023.2024. The decline in the ratio of the allowance to total loans largely reflects the impact of net charge-offs and a decline in the estimated allowance for credit losses on individually evaluated loans during 2025. The allowance for credit losses on unfunded commitments totaled $121,000,$211,000, downup $136,000$90,000 from December 31, 2023.2024. The total provision for credit losses on loans and unfunded commitments was $531,000$60,000 for 20242025 and was largely attributable to commercialincreases in construction loan growthcommitments and anoutstanding increaseloan inbalances theduring allowance for credit losses on individually evaluated loans.2025.
The following table shows changes in our allowance for loancredit losses and other related data for the periods indicated.
Substandard Loans and Non-performing Assets. The following table shows the amounts of our substandard loans and non-performing assets, which include non-accruing loans, accruing loans 90 days or more past due and foreclosed assets at the dates indicated. During 2025, the Company downgraded a $3.3 million non-real estate, commercial loan relationship to substandard due to declines in debt service coverage. All loans within the relationship have paid as agreed and, at December 31, 2025, were current and performing.
The following table shows how our allowance for loancredit losses is allocated by type of loan at each of the dates indicated.
Investment Securities. Total investment securities, available-for-sale and held-to-maturity, amounted to $65.4 million at December 31, 2025, up $23.2 million, or 55.1%, compared to $42.2 million in investment securities at December 31, 2024. During 2025, the Company purchased $20.2 million of variable-rate and $6.3 million of fixed-rate securities. The weighted average yield of the securities purchased during 2025 was 4.72% at December 31, 2025.
Investment Securities. Total investment securities, available-for-sale and held-to-maturity, amounted to $42.2 million at December 31, 2024, down $41.8 million, or 49.8%, compared to $84.0 million in investment securities at December 31, 2023. Net unrealized losses on securities available-for-sale totaled $4.5 million at December 31, 2024, compared to $9.2 million at December 31, 2023. Unrealized losses on available-for-sale securities relate principally to increases in market interest rates for similar securities. Our investment securities portfolio consists primarily of debt obligations issued by the U.S. government and government agencies and government-sponsored mortgage-backed securities.
Net unrealized losses on securities available-for-sale totaled $3.1 million at December 31, 2025, compared to $4.5 million at December 31, 2024. Unrealized losses on available-for-sale securities relate principally to higher market interest rates for similar securities. Our investment securities portfolio consists primarily of debt obligations issued by the U.S. government and government agencies and government-sponsored mortgage-backed securities.
The following table sets forth the composition of our investment securities portfolio as of the dates indicated.
Securities are classified according to their contractual maturities without consideration of principal amortization, potential prepayments, or call options. The expected maturities may differ from contractual maturities because of the exercise of call options and potential paydowns. Accordingly, actual maturities may differ from contractual maturities. Weighted average yields are calculated by dividing the estimated annual income divided by the average amortized cost of the applicable securities.
The increasedecline in interest-bearing demand deposits was largely due to a seasonal increasefluctuations in public funds.fund balances. Total public fund deposits totaledwere $26.4 million, or 14.3% of total deposits, at December 31, 2025, compared to $35.6 million, or 19.2% of total deposits, at December 31, 2024, compared to $23.3 million, or 14.1% of total deposits, at December 31, 2023.2024. At December 31, 2024,2025, approximately 83%59% of our total public fund deposits consisted of non-interest-bearing and interest-bearing demand deposits from municipalities within our market, compared to 78%83% at December 31, 2023.2024. TheAt increaseDecember 31, 2025, a larger portion of public funds were held in savings depositsaccounts was largely driven by rate specials offered to depositors during 2024, while the increase inand certificates of deposit was primarily due to the acquisition of brokered funding during the fourth quarter of 2024.deposit.
The increase in savings deposits was primarily attributable to our high-yield savings special. The competitive offering has been successful at attracting new deposits and deepening relationships with existing customers. Certificates of deposit declined primarily due to the scheduled maturity of $5.0 million of brokered deposits, which was partially offset by growth driven by in-market rate specials.
Borrowings. Total borrowings at December 31, 2025 were $14.7 million, up $5.2 million, or 54.1%, from December 31, 2024. The Company increased borrowings to partially fund the growth in investment securities during 2025.
Borrowings. Total borrowings at December 31, 2024 were $9.6 million, down $9.8 million, or 50.7%, from December 31, 2023. During the fourth quarter of 2023, the Bank began borrowing from the Federal Reserve Bank of Atlanta through its Bank Term Funding Program (“BTFP”), and at December 31, 2023, the Bank had one $10.0 million BTFP loan outstanding. The BTFP debt was repaid during 2024 and the Bank had no outstanding borrowings under the program at December 31, 2024.
Borrowings outstanding at December 31, 20242025 consisted of FHLB advances totaling $9.6 million, compared to $9.4 million at December 31, 2023.advances. The change in the carrying value of our FHLB advances reflects the amortization of deferred prepayment penalties on $10.0 million in advances restructured in December of 2020. Deferred prepayment penalties on our FHLB advances totaled $442,000$268,000 and $622,000$442,000 at December 31, 20242025 and 2023,2024, respectively.
Shareholders’ Equity. Shareholders’ equity totaled $81.7 million, or 28.9% of total assets, at December 31, 2025, up $1.5 million, or 1.9%, from $80.2 million, or 29.0% of total assets, at December 31, 2024. During 2025, the impacts of net income and the decline in unrealized losses on available-for-sale securities were partially offset by the Company’s repurchases of its common stock.
Shareholders’ Equity. Shareholders’ equity totaled $80.2 million, or 29.0% of total assets, at December 31, 2024, down $4.4 million, or 5.2%, from $84.6 million, or 31.2% of total assets, at December 31, 2023. During 2024, shareholders’ equity decreased by $5.8 million due to the Company’s repurchases of its common stock. The Company’s net loss of $3.1 million for 2024 was offset by other comprehensive income of $3.7 million, which was largely the result of the reclassification adjustment for realized losses on available-for-sale securities sold during the first quarter of 2024.
During the year ended December 31, 2024,2025, the Company repurchased 483,176203,239 shares of its common stock at an average cost of $11.91$12.72 per share. Of those shares, 228,326187,150 shares were repurchased under the Company’s November 20232024 Repurchase Plan and 227,00016,089 shares were repurchased under the MayNovember 20242025 Repurchase Plan. The remaining 27,850 shares were repurchased pursuant to the Company’s fifth repurchase plan announced in November 2024 (the “November 2024 Repurchase Plan”). Under the November 20242025 Repurchase Plan, 187,150188,911 shares of the Company’s common stock were available for repurchase at December 31, 2024.2025.
General. For the year ended December 31, 2025, the Company reported net income of $2.1 million, or $0.56 diluted EPS, compared to a net loss of $3.1 million for the year ended December 31, 2024. The following table summarizes the changes in net income (loss) for the periods indicated.
During the three months ended March 31, 2024, the Company sold 50 available-for-sale investment securities for a total pre-tax loss of $5.5 million. Non-interest expense for 2025 was down compared to 2024 primarily due to expenses incurred during 2024 related to the Company’s upgrade to a new core processing system.
Interest Income. The following table summarizes the changes in interest income for the periods indicated.
The average yield on loans was 6.68% for 2025, up 18 basis points (“bps”) from 6.50% for 2024. Average loans were $167.0 million in 2025, up $11.2 million, or 7.2%, compared to 2024.
General. For the year ended December 31, 2024, the Company reported a net loss of $3.1 million, compared to net income of $526,000 for the year ended December 31, 2023. Net interest income for 2024 was up $1.8 million, or 23.9%, compared to 2023. The provision for credit losses totaled $531,000 in 2024, compared to $128,000 in 2023. Non-interest income for 2024 was down $5.4 million compared to 2023, primarily due to losses on the sales of investment securities. Non-interest expense for 2024 was up $578,000, or 6.7%, compared to 2023, primarily due to expenses associated with the Company’s upgrade to a new core processing system.
Interest Income. Total interest income increased $4.2 million, or 43.5%, to $13.9 million for the year ended December 31, 2024, compared to 2023. Interest income on loans and other interest-earning assets were up by $2.9 million and $1.9 million, respectively, for the year ended December 31, 2024, compared to 2023. These increases were partially offset by a decrease in interest income on investment securities of $580,000 over the same comparable periods.
The average loan yield was 6.50% for the year ended December 31, 2024, up from 5.33% for 2023. Average loans were $155.9 million for the year ended December 31, 2024, up $20.2 million, or 14.9%, compared to 2023. At December 31, 2024, approximately 50% of our total loans have adjustable rates and approximately 50% of total loans are scheduled to re-price or mature during the next 12 months.
The decreaseincrease in interest income on investment securities was primarily due to thean decreaseincrease in the average balancerate ofearned totalon our investment securities due to the sales executed during the three months ended March 31, 2024. The average balance of total investment securitiesportfolio for 2024 was down $46.1 million, or 45.9%,2025 compared to 2023.2024. The average rate earned on our investment securities portfolio was 1.97%2.72% for the year ended December 31, 2024,2025, up 3175 basis pointsbps compared to 1.66% for 20232024, primarily due to the impact of higher-yielding investment securities purchased during 2024.2024 and 2025.
Interest income on interest-earning cash and due from banks, included in other interest-earning assets in certain preceding tables, decreased mainly due to the decline in the average balance of interest-earning cash, as well as a decline in the average rate earned. The average rate earned on other interest-earning assets was 4.31% for 2025, down 87 bps compared to 2024.
Interest Expense. The following table summarizes the changes in interest expense for the periods indicated.
The average rate paid on interest-bearing deposits was 2.52% during 2025, up 27 bps from 2.25% during 2024 largely driven by growth in high-yield savings account balances and an increase in the average rate paid on interest-bearing demand deposits. Interest expense on borrowings decreased in 2025 compared to 2024 mainly due to the payoff of a BTFP advance during the fourth quarter of 2024.
Net Interest Income. The increase in net interest margin and net interest income in 2025 compared to 2024, presented in the preceding tables, was primarily the result of loan growth during the last nine months of 2024 and the payoff of our BTFP advance.
The increase in interest income on other interest-earning assets, consisting primarily of interest-earning cash and deposits at other financial institutions, was mainly due to the re-investment of proceeds from investment securities sales discussed previously, as well as the impact of higher average short-term interest rates during 2024 compared to 2023.
Interest Expense. Total interest expense increased $2.4 million, or 120.7%, to $4.3 million for the year ended December 31, 2024, compared to $2.0 million for 2023. Interest expense on deposits was $3.2 million during 2024, up $1.6 million, or 97.3%, from $1.6 million for 2023. The average rate paid on interest-bearing deposits was 2.25% during 2024, up 105 basis points from 1.20% during 2023. Interest expense on borrowings increased by $769,000 during the year ended December 31, 2024, compared to 2023 largely due to interest expense on BTFP advances.
Net Interest Income. Net interest income was $9.5 million for the year ended December 31, 2024, up $1.8 million, or 23.9%, compared to 2023. Our interest rate spread was 2.76% and 2.50% for the years ended December 31, 2024 and 2023, respectively. Our net interest margin was 3.65% and 3.06% for the years ended December 31, 2024 and 2023, respectively. The increase in net interest margin and net interest income over the comparable periods was primarily the result of an increase in the yield and a change in the mix of our interest-earning assets, partially offset by the impact of an increase in the average volume and average rate paid on interest-bearing liabilities.
Provision for Credit Losses. The total provision for credit losses on loans and unfunded commitments was $531,000$60,000 for the2025 yearand endedwas Decemberlargely 31, 2024, comparedattributable to $128,000increases in 2023.construction loan commitments and outstanding loan balances during 2025. In 2024, the provision for credit losses totaled $531,000 and was largely attributable to commercial loan growth and an increase in the allowance for credit losses on individually evaluated residential loans.
Non-interest Income (Loss). The following table summarizes the changes in non-interest income (loss) for the periods indicated.
During 2024, the Company sold 50 available-for-sale investment securities for a total pre-tax loss of $5.5 million and recognized as income a $280,000 Bank Enterprise Award (“BEA”) Program grant from the Community Development Financial Institution (“CDFI”) Fund. The Company did not qualify for a similar award during 2025 and does not expect to qualify for future similar awards primarily due to the increase in our commercial lending activities.
Non-interest Expense. The following table summarizes the changes in non-interest expense for the periods indicated.
Non-interest Income. Non-interest income for the year ended December 31, 2024 was down $5.4 million from $1.6 million for 2023. Non-interest income for 2024 includes the $5.5 million loss on the sales of investment securities discussed previously. During 2023, the Company reported a loss on the sale of investment securities of $92,000.
During 2024 and 2023, the Company recognized income of $280,000 and $437,000, respectively, due to the Bank Enterprise Award (“BEA”) Program grants received from the Community Financial Institution (“CDFI”) Fund. The BEA Program grants awards to depository institutions that have successfully increased their investments in economically distressed communities through certain qualified activities, including investments in CDFIs and providing loans, investments and financial services to businesses and residents located in distressed communities.
Non-interestTotal Expense. Non-interest expense totaled $9.2 million for the year ended December 31, 2024, up $578,000, or 6.7%, compared to 2023. Non-interestnon-interest expense for 2024 included $531,000 of data conversion and other associated expenses related to the Company’s upgrade to a new core processing system, which occurred during the first three monthsquarter of 2024.
Salaries and employee benefits expense totaledincreased $4.8in million for the year ended December 31, 2024, up $159,000, or 3.4%,2025 compared to 2023. The increase was2024 primarily due to an increase in bonus expense and annual raises during 2024. Stock compensation expense also contributed to the increase inhigher salaries and employeewages, benefitsincreased expensebonus dueexpense, toand additionalnew grants underof the 2022 stockshare-based compensation plans.issued in June 2025.
Occupancy and equipment expense increased in 2025 compared to 2024 mainly due to new ATMs, computers, and other technology upgrades.
Data processing and communication expense for 2024 included $509,000 of data conversion and other associated expenses due to the Company’s upgrade to a new core processing system. In addition to the expense savings related to our new core processing system, data processing and communication expense in 2025 also benefited from our transition to a new internet provider and a new contract for our loan document management solution.
In 2024, professional fees associated with obtaining the BEA Program grant totaled $42,000 and were expensed during the three months ended September 30, 2024. Lower legal and audit expenses also contributed to lower professional fees during 2025 compared to 2024.
Foreclosed assets expenses and losses for 2025 were offset by $216,000 of insurance proceeds received for fire and flood damages related to foreclosed properties.
Data processing and communication expense totaled $1.3 million for the year ended December 31, 2024, up $438,000, or 48.1%, compared to 2023. Data processing and communication expense for 2024 included $509,000 of data conversion and other associated expenses associated with the Company’s upgrade to a new core processing system.
Professional fees totaled $469,00 for the year ended December 31, 2024, down $17,000, or 3.5%, from 2023. Professional fees associated with obtaining our 2024 and 2023 BEA grants totaled $42,000 and $66,000, respectively.
What changed in the latest 10-Q
Risk Factors
We could not find a separate Risk Factors item in the latest 10-Q. Some companies leave it out of quarterly reports; see the annual 10-K risk factors and the original filing. Open the filing on SEC.gov.
Management's Discussion & Analysis (MD&A)
New heading “Comparison of Results of Operations for the Six Months Ended June 30, 2026 and 2025.”
Largest changes
“Comparison of Results of Operations for the Six Months Ended June 30, 2026 and 2025.”see in full comparison
Substandard Loans and Non-performing Assets. The following table shows the amounts of our substandard loans and non-performing assets, which include non-accruing loans, accruing loans 90 days or more past due and foreclosed assets at the dates indicated. During 2025, thesee in full comparisonthreeCompanymonthsdowngradedendedaMarch$3.331,million non-real estate, commercial loan relationship to substandard due to declines in debt service coverage. All loans within the relationship have paid as agreed and, at June 30, 2026,awere$304,000 commercial real estate loan was placed on non-accrual statuscurrent andclassified as substandard.performing.
“The increase in interest income on investment securities was due to increases in both the average balance and the average rate earned on our investment securities portfolio for the six months ended June 30, 2026 compared to the same period in 2025. The average balance of our investment securities portfolio, measured at amortized cost, was $68.6 million, up $21.0 million, or 44.1%, compared to the same period in 2025. The average rate earned on our investment securities portfolio also increased to 3.21% for the six months ended June 30, 2026, compared to 2.42% for the same period in 2025. …”see in full comparison
“On July 14, 2026, the Company completed the acquisition of Lakeside Bancshares, Inc. and its subsidiary, Lakeside Bank (collectively referred to as “Lakeside”). The Company’s reported net income for 2026 includes certain expenses related to Lakeside’s merger with and into the Company and the Bank. These expenses are referred to as “merger-related expenses” and totaled $87,000 and $182,000 (pre-tax) for the three and six months ended June 30, 2026, respectively.”see in full comparison
“Provision for Credit Losses. The Company recorded a reversal of provision for credit losses of $174,000 for the six months ended June 30, 2026, compared to zero provision for the same period in 2025. The reversal of expected credit losses was largely driven by declines in outstanding loan balances and loan commitments, conversions of construction loans to amortizing real estate loans, and a decline in the amount of classified commercial real estate loans.”see in full comparison
Investment Securities. Total investment securities, available-for-sale and held-to-maturity, amounted tosee in full comparison$63.1$67.1 million atMarchJune31,30, 2026,downup$2.3$1.7 million, or3.4%,2.6%, compared to $65.4 million at December 31, 2025. The Companydidpurchasednot$6.0purchasemillioninvestmentofsecuritiessubordinated debt issued by bank holding companies during thethreesix months endedMarchJune31,30, 2026. The issuers are financially strong, publicly traded companies based in the southern United States. The weighted average yield of the securities purchased during 2026 was 6.3%. During 2025, the Company purchased $20.2 million of variable-rate and $6.3 million of fixed-rate securities. The weighted average yield of the securities purchased during 2025 was4.45%4.41% atMarchJune31,30, 2026.
Full comparison: every changed paragraph (61)
Management’s Discussion and Analysis of Financial Condition and Results of Operations at MarchJune 31,30, 2026 and for the three and six months ended MarchJune 31,30, 2026 and 2025 is intended to assist in understanding our financial condition and results of operations. The information contained in this section should be read in conjunction with the unaudited consolidated financial statements of the Company and the notes thereto appearing in Part I, Item 1, of this Quarterly Report on Form 10-Q as well as the business and financial information included in the Company’s Annual Report on Form 10-K filed with the SEC for the year ended December 31, 2025.
Founded in 1922, the Bank is a community-oriented savings bank serving the banking needs of customers in the Acadiana region of south-centralsouth Louisiana. We are headquartered in Opelousas, Louisiana and serve our customers through six full-service branches located in Carencro, Eunice, Lafayette, Opelousas, and Port Barre. Our primary business consists of attracting deposits from the general public and using those funds together with funds we borrow from the Federal Home Loan Bank (“FHLB”) of Dallas, Federal Reserve Bank of Atlanta, and other sources to originate loans to our customers and invest in securities.
On July 14, 2026, the Company completed the acquisition of Lakeside Bancshares, Inc. and its subsidiary, Lakeside Bank (collectively referred to as “Lakeside”). The Company’s reported net income for 2026 includes certain expenses related to Lakeside’s merger with and into the Company and the Bank. These expenses are referred to as “merger-related expenses” and totaled $87,000 and $182,000 (pre-tax) for the three and six months ended June 30, 2026, respectively.
The following tables present an overview of financial results for the three and six months ended June 30, 2026. It is only a summary and should be read in conjunction with the business and financial information regarding the Company included elsewhere herein, including the financial statements included in Item 8 of the Company’s Annual Report on Form 10-K.
The following is an overview of financial results for the three months ended March 31, 2026:
Comparison of Financial Condition at MarchJune 31,30, 2026 and December 31, 2025
Total Assets. Total assets increased by $5.6$7.1 million, or 2.0%,2.5%, to $288.5$290.0 million at MarchJune 31,30, 2026 from $282.9 million at December 31, 2025. Over the same time period, total cash and cash equivalents were up $13.3$11.8 million, or 52.9%,46.7%, primarily due to deposit growth, partially offset by a decline in borrowings.
During the threesix months ended MarchJune 31,30, 2026, a $5.9 million commercial and industrial loan relationship paid off after the sale of the borrower’s business.business and $6.6 million of construction loans were converted to amortizing commercial real estate loans. The loans are included in the health service facilities category presented in the following table.
A $1.6 million construction loan, included in the health service facilities category in the table above, converted to a commercial real estate loan during the three months ended March 31, 2026. Multi-family residential construction loan growth was largely driven by new apartment homes in Lafayette Parish.
Allowance for Credit Losses. At MarchJune 31,30, 2026, the allowance for credit losses on loans totaled $2.3$2.2 million, or 1.40%1.34% of total loans, compared to $2.4 million, or 1.39% of total loans at December 31, 2025. The allowance for credit losses on unfunded commitments totaled $176,000,$181,000, down $35,000$30,000 from December 31, 2025. The Company recorded a $70,000$174,000 reversal of provision for credit losses and net loan charge-offs were $37,000$38,000 for the threesix months ended MarchJune 31,30, 2026. The reversal of provision for credit losses was primarily driven by declines in commercial and industrial and residentialoutstanding loan balances and commitments.loan commitments, conversions of construction loans to amortizing real estate loans, and a decline in the amount of classified commercial real estate loans. Net loan charge-offs in 2026 included a $28,000 charge-off of a commercial line of credit.
Substandard Loans and Non-performing Assets. The following table shows the amounts of our substandard loans and non-performing assets, which include non-accruing loans, accruing loans 90 days or more past due and foreclosed assets at the dates indicated. During 2025, the threeCompany monthsdowngraded endeda March$3.3 31,million non-real estate, commercial loan relationship to substandard due to declines in debt service coverage. All loans within the relationship have paid as agreed and, at June 30, 2026, awere $304,000 commercial real estate loan was placed on non-accrual statuscurrent and classified as substandard.performing.
Investment Securities. Total investment securities, available-for-sale and held-to-maturity, amounted to $63.1$67.1 million at MarchJune 31,30, 2026, downup $2.3$1.7 million, or 3.4%,2.6%, compared to $65.4 million at December 31, 2025. The Company didpurchased not$6.0 purchasemillion investmentof securitiessubordinated debt issued by bank holding companies during the threesix months ended MarchJune 31,30, 2026. The issuers are financially strong, publicly traded companies based in the southern United States. The weighted average yield of the securities purchased during 2026 was 6.3%. During 2025, the Company purchased $20.2 million of variable-rate and $6.3 million of fixed-rate securities. The weighted average yield of the securities purchased during 2025 was 4.45%4.41% at MarchJune 31,30, 2026.
Net unrealized losses on securities available-for-sale totaled $3.2 million and $3.1 million at MarchJune 31,30, 2026 and December 31, 2025.2025, respectively. Unrealized losses on available-for-sale securities relate principally to higher market interest rates for similar securities. Our investment securities portfolio consists primarily of debt obligations issued by the U.S. government and government agencies and government-sponsored mortgage-backed securities.
The following table presents the amortized cost of our total investment securities portfolio that matures during each of the periods indicated and the weighted average yields for each range of maturities at MarchJune 31,30, 2026.
Total deposits averaged $198.2$198.5 million during the threesix months ended MarchJune 31,30, 2026, $177.1$178.3 million during the threesix months ended MarchJune 31,30, 2025, and $179.5 million during the year ended December 31, 2025. The ratio of the Company’s total loans to total deposits was 83.8%82.9% and 91.9% at MarchJune 31,30, 2026 and December 31, 2025, respectively. Growth in high-yield savings accounts has been a primary driver of deposit growth during 2026.
The increase in total deposits was driven by a mix of public and non-public deposits. Total public fund deposits were $29.8$27.4 million, or 15.3%14.0% of total deposits, at MarchJune 31,30, 2026, compared to $26.4 million, or 14.3% of total deposits, at December 31, 2025. Total public fund deposits averaged $35.6$32.9 million during the threesix months ended MarchJune 31,30, 2026, $30.7$29.0 million during the threesix months ended MarchJune 31,30, 2025, and $27.6 million during the year ended December 31, 2025. At MarchJune 31,30, 2026 and December 31, 2025, approximately 59%55% and 59%, respectively, of our total public fund deposits consisted of non-interest-bearing and interest-bearing demand deposits.
The estimated amount of our total uninsured deposits (that is deposits in excess of the FDIC’s insurance limit), inclusive of public funds, was approximately $55.3$55.1 million at MarchJune 31,30, 2026 and $50.1 million at December 31, 2025. Total uninsured non-public fund deposits were approximately $30.8$32.8 million and $28.8 million at MarchJune 31,30, 2026 and December 31, 2025, respectively. At MarchJune 31,30, 2026, the full amount of our public fund deposits in excess of the FDIC’s insurance limit were secured by either pledged investment securities of $48.8$41.5 million or $5.0 million of a custodial letter of credit granted by the Federal Home Loan Bank of Dallas.
Borrowings. Total borrowings at MarchJune 31,30, 2026 were $9.8 million, down $5.0$4.9 million, or 33.8%,33.6%, from $14.7 million at December 31, 2025 due to pay-offs of short-term advances.
Shareholders’ Equity. Shareholders’ equity totaled $82.2$82.5 million, or 28.5% of total assets, at MarchJune 31,30, 2026, up $484,000,$805,000, or 0.6%,1.0%, from $81.7 million, or 28.9% of total assets, at December 31, 2025. During the threesix months ended MarchJune 31,30, 2026, shareholders’ equity increased by the Company’s net income of $558,000,$1.1 million, which was partially offset by the Company’s repurchases of its common stock.
The Company repurchased 16,614 shares of its common stock at an average cost per share of $15.71 during the three months ended March 31, 2026. The Company paused share repurchases temporarily during the three months ended March 31, 2026 while conducting due diligence and negotiations related to our agreement to acquire Lakeside.
The Company repurchased 40,820 shares of its common stock at an average cost per share of $16.00 during the six months ended June 30, 2026. During the fourth quarter of 2025, the Company announced our sixth share repurchase plan (the “November 2025 Repurchase Plan”). Under the November 2025 Repurchase Plan, the Company may purchase up to 205,000 shares, or approximately 5%, of the Company’s outstanding common stock. At MarchJune 31,30, 2026, 172,297148,091 shares of the Company’s common stock were available for repurchase under the November 2025 Repurchase Plan. As of the date of this filing, we have resumed repurchases under the November 2025 Repurchase Plan.
Since the announcement of our first share repurchase plan on January 26, 2023 and through MayJune 12,30, 2026, the Company has repurchased a total of 1,238,1041,255,909 shares of its common stock, or approximately 23%24% of the common shares originally issued, at an average cost per share of $12.13.$12.19.
Following the merger of Lakeside with and into the Company and the Bank, consolidated shareholders’ equity is estimated to be approximately $78.7 million, or 12.5% of total assets, based on data as of June 30, 2026. The purchase accounting and related valuation estimates remain preliminary and are subject to change as additional information becomes available during the measurement period.
Average Balances, Net Interest Income, and Yields Earned and Rates Paid. The following tabletables showsshow for the periods indicated the total dollar amount of interest income from average interest-earning assets and the resulting yields, as well as the interest expense on average interest-bearing liabilities, expressed both in dollars and rates, and the net interest margin. Taxable equivalent (“TE”) yields have been calculated using a marginal tax rate of 21%. All average balances are based on daily balances.
Comparison of Results of Operations for the Three Months Ended MarchJune 31,30, 2026 and 2025.
General. For the three months ended MarchJune 31,30, 2026, the Company reported net income of $558,000,$524,000, or $0.15$0.14 diluted EPS, compared to net income of $586,000,$521,000, or $0.16$0.14 diluted EPS, for the three months ended MarchJune 31,30, 2025. The following table summarizes the changes in net income for the periods indicated. Non-interest expense for the three months ended June 30, 2026 included Lakeside merger-related expenses of $87,000 (pre-tax).
Non-interest expense for the three months ended March 31, 2026 included professional fees of $95,000 (pre-tax) related to our agreement to acquire Lakeside. During the three months ended March 31, 2025, insurance proceeds of $216,000 for damaged foreclosed properties partially offset non-interest expense.
The average yield on loans was 6.61%6.58% for the three months ended MarchJune 31,30, 2026, down seventen basis points (“bps”) from 6.68% for the same period in 2025. Average loans were $168.5$163.7 million for the three months ended MarchJune 31,30, 2026, updown $2.4$4.0 million, or 1.4%,2.4%, compared to the same period in 2025.
The increase in interest income on investment securities was due to increases in both the average balance and the average rate earned on our investment securities portfolio for the three months ended MarchJune 31,30, 2026 compared to the same period in 2025. The average balance of our investment securities portfolio, measured at amortized cost, was $67.5$69.7 million, up $20.6$21.4 million, or 43.8%,44.4%, compared to the same period in 2025. The average rate earned on our investment securities portfolio also increased to 3.13%3.28% for the three months ended MarchJune 31,30, 2026, compared to 2.35%2.49% for the same period in 2025. These increases were primarily due to the impact of higher-yielding investment securities purchased during 2025.
Interest income on interest-earning cash and due from banks, included in other interest-earning assets in certain preceding tables, decreased mainly due to a decline in the average rate earned on interest-earning cash and other earning assets. The average rate earned on other interest-earning assets was 3.60%3.67% for the three months ended MarchJune 31,30, 2026, down 7686 bps, compared to 4.36%4.53% for the same period in 2025.
The average rate paid on interest-bearing deposits was 2.30%2.26% during the three months ended MarchJune 31,30, 2026, down 2423 bps compared to 2.54%2.49% for the same period in 2025. The average balance of interest-bearing deposits was $165.2$162.9 million for the three months ended MarchJune 31,30, 2026, up $15.3$13.7 million, or 10.2%,9.2%, compared to the same period in 2025, largely due to growth in high-yield savings account balances.
During the three months ended March 31, 2026, borrowings averaged $11.1 million, up $1.5 million, or 16.1%, and the average rate paid on borrowing was 3.11%, up 26 bps compared to the same period in 2025.
Net Interest Income. The increase in net interest income and decline in net interest margin for the three months ended MarchJune 31,30, 2026 compared to the same period in 2025, as presented in the preceding tables,2025 was largely the result of growth in investment securities and a decline in the average rate earned on loans and other interest-earning assets.
Provision for Credit Losses. The Company recorded a reversal of provision for credit losses of $70,000$104,000 for the three months ended MarchJune 31,30, 2026, compared to zero provision for the same period in 2025. The reversal of provision forexpected credit losses was primarilylargely driven by declinesa decline in commercialconstruction and industrial and residentialland loan balances as a result of a $5.0 million construction loan converting to an amortizing commercial real estate loan and relateda commitments.decline in the amount of classified commercial real estate loans during the three months ended June 30, 2026.
Merger-related expenses for the three months ended June 30, 2026 included $64,000 in professional fees, $15,000 in advertising and marketing expense, and $8,000 in other non-interest expense.
Professional fees increased mainly due to $95,000 (pre-tax) of expense incurred during the three months ended March 31, 2026 related to our agreement to acquire Lakeside Bancshares, Inc. and its subsidiary, Lakeside Bank, which was entered into on April 7, 2026 and is expected to close in the third quarter of 2026.
Foreclosed assets expenses and losses during the three months ended March 31, 2025 were offset by $216,000 of insurance proceeds received for fire and flood damages related to foreclosed properties.
Income Tax Expense. The effective tax rates for the three months ended MarchJune 31,30, 2026 and 2025 were 18.4%22.5% and 18.6%,17.8%, respectively. The increase in income tax expense and the effective tax rate for the three months ended June 30, 2026 was mainly due to the tax impact of non-deductible merger-related expenses.
Comparison of Results of Operations for the Six Months Ended June 30, 2026 and 2025.
General. For the six months ended June 30, 2026 and 2025, the Company reported net income of $1.1 million, or $0.30 diluted EPS. The following table summarizes the changes in net income for the periods indicated. Non-interest expense for the six months ended June 30, 2026 included Lakeside merger-related expenses of $182,000 (pre-tax).
Interest Income. The following table summarizes the changes in interest income for the periods indicated.
The average yield on loans was 6.60% for the six months ended June 30, 2026, down eight basis points (“bps”) from 6.68% for the same period in 2025. Average loans were $166.1 million for the six months ended June 30, 2026, down $807,000, or 0.5%, compared to the same period in 2025.
The increase in interest income on investment securities was due to increases in both the average balance and the average rate earned on our investment securities portfolio for the six months ended June 30, 2026 compared to the same period in 2025. The average balance of our investment securities portfolio, measured at amortized cost, was $68.6 million, up $21.0 million, or 44.1%, compared to the same period in 2025. The average rate earned on our investment securities portfolio also increased to 3.21% for the six months ended June 30, 2026, compared to 2.42% for the same period in 2025. These increases were primarily due to the impact of higher-yielding investment securities purchased during 2025.
Interest income on interest-earning cash and due from banks, included in other interest-earning assets in certain preceding tables, decreased mainly due to a decline in the average rate earned on interest-earning cash and other earning assets. The average rate earned on other interest-earning assets was 3.64% for the six months ended June 30, 2026, down 80 bps, compared to 4.44% for the same period in 2025.
Interest Expense. The following table summarizes the change in interest expense for the periods indicated.
The average rate paid on interest-bearing deposits was 2.28% during the six months ended June 30, 2026, down 24 bps compared to 2.52% for the same period in 2025. The average balance of interest-bearing deposits was $164.0 million for the six months ended June 30, 2026, up $14.5 million, or 9.7%, compared to the same period in 2025, largely due to growth in high-yield savings account balances.
Net Interest Income. The increase in net interest income and decline in net interest margin for the six months ended June 30, 2026 compared to the same period in 2025 was largely the result of growth in investment securities and a decline in the average rate earned on loans and other interest-earning assets.
Provision for Credit Losses. The Company recorded a reversal of provision for credit losses of $174,000 for the six months ended June 30, 2026, compared to zero provision for the same period in 2025. The reversal of expected credit losses was largely driven by declines in outstanding loan balances and loan commitments, conversions of construction loans to amortizing real estate loans, and a decline in the amount of classified commercial real estate loans.
Non-interest Income. The following table summarizes the changes in non-interest income for the periods indicated.
Income from bank-owned life insurance increased largely due to an internal exchange of certain existing policies that became effective during the fourth quarter of 2025.
Non-interest Expense. The following table summarizes the changes in non-interest expense for the periods indicated.
Salaries and employee benefits expense increased primarily due to annual raises that were made effective during the fourth quarter of 2025, an increase in compensation expense related to the Employee Stock Ownership Plan due to a rise in the Company’s average stock price, and new grants of share-based compensation issued in June 2025.
Foreclosed assets expenses and losses during the six months ended June 30, 2025 were offset by $216,000 of insurance proceeds received for fire and flood damages related to foreclosed properties.
Merger-related expenses for the six months ended June 30, 2026 included $159,000 in professional fees, $15,000 in advertising and marketing expense, and $8,000 in other non-interest expense.
Income Tax Expense. The effective tax rates for the six months ended June 30, 2026 and 2025 were 20.4% and 18.2%, respectively. The increase in income tax expense and the effective tax rate for the six months ended June 30, 2026 was mainly due to the tax impact of non-deductible merger-related expenses.
At MarchJune 31,30, 2026, our borrowings consisted of FHLB advances with a total net carrying value of $9.8 million. The table below summarizes our unused and available liquidity sources as of MarchJune 31,30, 2026.
The Bank’s available borrowing capacity with the FHLB is secured through a blanket floating lien on real estate loans. The Company also has a $20.0 million custodial letter of credit outstanding from the FHLB as of MarchJune 31,30, 2026, which is included in the calculation of our available capacity with the FHLB indicated above. The Company can allocate portions of this letter of credit to collateralize certain deposit balances in excess of the FDIC’s insurance limit as an alternative to pledging investment securities for the same purpose. At MarchJune 31,30, 2026, the Company used $5.0 million of the FHLB custodial letter of credit to collateralize public fund deposits.
Our cash flows are comprised of three primary classifications: cash flows from operating activities, investing activities, and financing activities. The details of these cash flow classifications are presented on the statement of cash flows included in Item 1 of this Form 10-Q. The most significant uses and sources of cash flows during the threesix months ended MarchJune 31,30, 2026 included:
The following table summarizes our outstanding off-balance sheet commitments to originate loans and to advance additional amounts pursuant to outstanding letters of credit, lines of credit and undisbursed construction loans at MarchJune 31,30, 2026.
The following table summarizes our contractual cash obligations at MarchJune 31,30, 2026.
CLST insider buying and selling (Form 4)
Since 2026-04-11, insiders reported open-market purchases in 1 Form 4 filing (1 insider, 1 trade date, 6,200 shares, about $99.9K) and open-market sales in 1 filing (1 insider, 1 trade date, 6,000 shares, about $96.2K). Net open-market shares: 200 (purchases minus sales); net value about $3.7K.Totals add up every open-market (code P and S) line in those filings, using the prices reported in the filings. Awards, option exercises, tax withholding and gifts are listed below but not counted.
| Trade date | Insider | Transaction | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-09-16 | Kleiser Kirk E. |
Option exercise | 16,928 | $13.30 | $225.1K |
| 2026-09-16 | Kleiser Kirk E. |
Option exercise | 529 | $12.08 | $6.4K |
| 2026-09-01 | Zanco Joseph B |
Shares withheld for tax | 1,158 | $17.81 | $20.6K |
| 2026-09-01 | Bourque Jacques L.j. |
Shares withheld for tax | 131 | $17.81 | $2.3K |
| 2026-09-01 | Quebedeaux Amanda B. |
Shares withheld for tax | 553 | $17.81 | $9.8K |
| 2026-06-10 | Quebedeaux Amanda B. |
Shares withheld for tax | 131 | $15.96 | $2.1K |
| 2026-06-10 | Quebedeaux Amanda B. |
Grant/award | 1,000 | — | — |
| 2026-06-10 | Ledet Don P |
Shares withheld for tax | 131 | $15.96 | $2.1K |
| 2026-06-10 | Ledet Don P |
Grant/award | 1,000 | — | — |
| 2026-06-10 | Bourque Jacques L.j. |
Grant/award | 1,000 | — | — |
| 2026-06-10 | Bourque Jacques L.j. |
Shares withheld for tax | 131 | $15.96 | $2.1K |
| 2026-06-10 | Quebedeaux Amanda B. |
Grant/award | 1,000 | — | — |
| 2026-06-10 | Zanco Joseph B |
Grant/award | 5,290 | — | — |
| 2026-06-10 | Lebouef Craig C. |
Grant/award | 1,058 | — | — |
| 2026-06-10 | Lafleur Frederick R. |
Grant/award | 1,058 | — | — |
| 2026-06-10 | Kidder Todd A. |
Grant/award | 1,058 | — | — |
| 2026-06-10 | Bellard Ted D. |
Grant/award | 1,058 | — | — |
| 2026-06-10 | Scruggins Matthew L. |
Grant/award | 1,058 | — | — |
| 2026-06-10 | Kleiser Kirk E. |
Open-market purchase | 2,850 | $16.13 | $46.0K |
| 2026-06-10 | Kleiser Kirk E. |
Open-market purchase | 2,350 | $16.09 | $37.8K |
| 2026-06-10 | Kleiser Kirk E. |
Open-market purchase | 1,000 | $16.11 | $16.1K |
| 2026-06-10 | Kleiser Kirk E. |
Open-market sale | 5,000 | $16.04 | $80.2K |
| 2026-06-10 | Kleiser Kirk E. |
Open-market sale | 1,000 | $16.04 | $16.0K |
| 2026-06-10 | Kleiser Kirk E. |
Grant/award | 1,058 | — | — |
Well-known investors holding CLST (13F)
| Investor | Quarter | Shares | Reported value | % of their 13F | Change vs prior quarter |
|---|---|---|---|---|---|
| Renaissance Technologies | 2026-06-30 | 23,100 | $381.4K | 0.0% | No change |
| Citadel Advisors (Ken Griffin) | 2026-06-30 | 14,582 | $240.7K | 0.0% | Added 12% |